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Bluejay Diagnostics Closes $3.5M Public Offering of Stocks, Warrants

NEW YORK – Bluejay Diagnostics said on Tuesday that it has closed a previously announced public stock offering that raised $3.5 million in gross proceeds.

The Acton, Massachusetts-based firm sold 2,692,308 shares of the company's common stock and warrants to purchase another 2,692,308 shares at a price of $1.30 per share. The warrants can be exercised immediately or up to five years following the issuance date.

The firm, which went public in 2021, said it plans to use some of the proceeds to support studies and regulatory submissions needed for US Food and Drug Administration approval of the firm's first product, its Symphony IL-6 Test that is designed to help healthcare providers assess and triage patients with suspected sepsis. The firm said the test provides sample-to-answer results in about 20 minutes.

The company said it also plans to use proceeds from the stock offering for other R&D activities and general working capital needs.

H.C. Wainwright and Co. served as the placement agent for the offering.

Bluejay Diagnostics' shares were up 1 percent at $1.20 in Wednesday morning trading on the Nasdaq.